19 June 2006
Over half of the UK's population have had to deal with a UFO each year, according to research.
Lloyds TSB found that 60% of the UK population had to find a way of coping with UFO- or unforeseen financial occurrence.
In order to help its personal loan customers cope with a UFO, the bank has now introduced a loan payment holiday of one month that borrowers can ask to take in order to help them cope with a UFO.
"It's an unfortunate fact of life that every now and again we all suffer from unforeseen financial occurrences," said Jason Nichols, Lloyds TSB consumer lending manager.
"When our customers experience a UFO they want the ability to be able to choose what is the best way for them to pay for it, taking into account their financial situation at that time.
"Our research shows 75% of our customers would like to have the option of a loan repayment holiday to help pay for UFOs and 69% say it would help them to manage their money better."
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